State of Michigan Retirement System Has $10.41 Million Position in AMETEK, Inc. (NYSE:AME)

State of Michigan Retirement System reduced its holdings in AMETEK, Inc. (NYSE:AMEFree Report) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,153 shares of the technology company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in AMETEK were worth $10,413,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prio Wealth Limited Partnership bought a new stake in shares of AMETEK in the fourth quarter valued at about $209,000. apricus wealth LLC bought a new stake in shares of AMETEK in the fourth quarter valued at about $349,000. Wendell David Associates Inc. lifted its stake in shares of AMETEK by 27.3% in the fourth quarter. Wendell David Associates Inc. now owns 2,100 shares of the technology company’s stock valued at $346,000 after buying an additional 450 shares during the period. PFG Advisors lifted its stake in shares of AMETEK by 208.1% in the fourth quarter. PFG Advisors now owns 21,376 shares of the technology company’s stock valued at $3,525,000 after buying an additional 14,439 shares during the period. Finally, Caprock Group LLC lifted its stake in shares of AMETEK by 3.6% in the fourth quarter. Caprock Group LLC now owns 3,038 shares of the technology company’s stock valued at $501,000 after buying an additional 106 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Performance

NYSE AME opened at $180.39 on Wednesday. The firm has a market cap of $41.71 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 2.92 and a beta of 1.22. The company has a 50 day moving average of $175.45 and a 200-day moving average of $161.65. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. AMETEK, Inc. has a 1-year low of $133.12 and a 1-year high of $186.32.

AMETEK (NYSE:AMEGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.52 earnings per share. On average, equities analysts forecast that AMETEK, Inc. will post 6.82 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is currently 19.75%.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the completion of the sale, the director now owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the completion of the sale, the director now owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO William Joseph Burke sold 27,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the completion of the sale, the chief financial officer now directly owns 106,512 shares of the company’s stock, valued at approximately $19,710,045.60. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock valued at $10,689,758 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the subject of a number of analyst reports. Truist Financial initiated coverage on shares of AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 price target for the company. KeyCorp raised their price target on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Royal Bank of Canada cut their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.78.

Read Our Latest Stock Analysis on AME

About AMETEK

(Free Report)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.

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Institutional Ownership by Quarter for AMETEK (NYSE:AME)

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